Is China National Travel Service the Ministry of Finance or the State-owned Assets Supervision and Administration Commission?

China International Travel Service (China International Travel Service Group Co., Ltd.) is one of the large state-owned enterprises affiliated with the State-owned Assets Supervision and Administration Commission of the State Council of China (hereinafter referred to as the "SASAC"). The State-owned Assets Supervision and Administration Commission is an agency of the Chinese government responsible for the supervision and management of state-owned assets. It aims to promote state-owned capital investment, operation, supervision, reform and operation management in a broad sense. Therefore, CITS is not a subordinate unit of the Ministry of Finance, but is supervised and managed by the State-owned Assets Supervision and Administration Commission as the competent unit. As a large tourism enterprise, China National Travel Service has a very wide range of operations in the international and domestic markets. Its holding companies include China National Travel Service Co., Ltd., Beijing Tourism Group Co., Ltd., China International Tourism Co., Ltd., etc.